Amgen 3rd-qtr sales and earnings top expectations

31 October 2018

US biotech major Amgen (Nasdaq: AMGN) yesterday released financial results for the third quarter of 2018 that beat consensus expectations.

Revenue for the quarter came in at $5.9 billion, up 2% year-on-year, and topping the $5.78 billion expected by analysts. Generally accepted accounting principles (GAAP) operating income decreased 5% to $2.3 billion and GAAP operating margin decreased 2.5 percentage points to 42.2%.

Amgen reported adjusted earnings per share of $3.69 per share, rising 13% to beat the estimates of analysts polled by Zacks Investment Research for $3.42, and consensus forecasts of $3.45 a share, according to Refinitiv data.

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